Zacks Investment Research cut shares of Varonis Systems (NASDAQ:VRNS) from a hold rating to a sell rating in a report released on Saturday morning.
According to Zacks, “Varonis Systems Inc. provides an innovative software platform that allows enterprises to map, analyze, manage and migrate their unstructured data. Its products include DatAdvantage, DataPrivilege, IDU Classification Framework, Data Transport Engine and DatAnywhere. The company sells its products to small and medium businesses, and large multinational enterprises in financial services, consumer and retail, industrial, healthcare, and energy and utilities industries. Varonis Systems Inc. is headquartered in New York. “
Several other equities research analysts also recently issued reports on VRNS. BidaskClub upgraded Varonis Systems from a hold rating to a buy rating in a report on Wednesday, January 10th. Needham & Company LLC lifted their price objective on Varonis Systems from $52.00 to $65.00 and gave the stock a buy rating in a report on Friday, January 19th. Oppenheimer initiated coverage on Varonis Systems in a report on Wednesday, December 6th. They set an outperform rating and a $57.00 price objective on the stock. TheStreet upgraded Varonis Systems from a d+ rating to a c rating in a report on Monday, February 12th. Finally, Jefferies Group lifted their price objective on Varonis Systems from $52.00 to $55.00 and gave the stock a buy rating in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $57.92.
Varonis Systems (NASDAQ:VRNS) opened at $56.30 on Friday. The company has a market capitalization of $1,570.00, a PE ratio of -110.39 and a beta of 0.89. Varonis Systems has a twelve month low of $26.35 and a twelve month high of $56.80.
Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Monday, February 12th. The technology company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $73.20 million for the quarter, compared to the consensus estimate of $66.29 million. Varonis Systems had a negative return on equity of 15.65% and a negative net margin of 6.30%. The company’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same period last year, the business posted $0.24 EPS. analysts forecast that Varonis Systems will post -0.77 EPS for the current year.
In other news, CEO Yakov Faitelson sold 46,569 shares of Varonis Systems stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $51.16, for a total value of $2,382,470.04. Following the completion of the transaction, the chief executive officer now owns 211,572 shares in the company, valued at approximately $10,824,023.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Guy Melamed sold 897 shares of Varonis Systems stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $48.95, for a total value of $43,908.15. Following the completion of the transaction, the chief financial officer now owns 95,408 shares of the company’s stock, valued at approximately $4,670,221.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 223,754 shares of company stock valued at $11,352,516. Insiders own 19.50% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. ETRADE Capital Management LLC acquired a new position in shares of Varonis Systems in the 4th quarter worth approximately $209,000. CAPROCK Group Inc. acquired a new position in shares of Varonis Systems in the 4th quarter worth approximately $220,000. Schmidt P J Investment Management Inc. acquired a new position in shares of Varonis Systems in the 3rd quarter worth approximately $243,000. Teacher Retirement System of Texas acquired a new position in shares of Varonis Systems in the 4th quarter worth approximately $254,000. Finally, Invictus RG acquired a new position in shares of Varonis Systems in the 4th quarter worth approximately $271,000. Institutional investors own 84.81% of the company’s stock.
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Varonis Systems Company Profile
Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Interface Data Unit Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. Its platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data.
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